MGM posted a larger-than-expected loss in the previous quarter and is expected to post another loss in its fourth quarter. The second casino, which still needs a permit before construction begins, will not be completed for about three years once construction starts.
Competitors Las Vegas Sands Corp. (NYSE: LVS), Wynn Resorts Ltd. (NASDAQ: WYNN) and Monarch Casino and Resort Inc. (NASDAQ: MCRI), along with MGM, got a share price boost last week on reports that Macau revenues totaled $35 billion last year, a rise of about 14% from 2011. Macau’s revenues are expected to rise 5% to 10% this year following new restrictions by the Chinese government. In 2010, Macau’s casino revenues leaped 42% from the previous year. Those days are long gone it seems.
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
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